Office Properties to repay portion of loans via sale proceeds

By Sarah Lizee

Olympia, Wash., Feb. 11 – Office Properties Income Trust intends to repay a portion of its unsecured term loans and borrowings under its revolving credit facility using proceeds from its $198.5 million sale of a portfolio of 34 buildings, according to a press release.

As of Sept. 17, 2018, there was $105 million outstanding under the revolver and $524 million under the term loans, according to company documents related to the merger of Government Properties Income Trust and Select Income REIT.

Government Properties announced on Dec. 31 that it had completed the merger, with the combined company changing its name to Office Properties Income Trust.

Office Properties is a Newton, Mass.-based real estate investment trust.

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